Overview
- Markets reacted to weekend announcements that the United States and Iran paused attacks, which sent oil prices sharply lower and encouraged investors to buy risk assets such as the Mexican peso.
- The Mexican peso strengthened modestly, trading around 17.44–17.48 per US dollar with Banxico reporting a 17.44 close on July 27, supported by trade flows and T‑MEC related confidence.
- Argentina showed split currency dynamics as the informal 'dólar blue' climbed to about ARS 1,560 while official and Banco Nación rates stayed near ARS 1,497 (wholesale) and ARS 1,520 (retail).
- Investor caution persists because Argentina's country risk has risen toward roughly 439–450 basis points as markets weigh external volatility, US Treasury yields, sovereign credit moves and local political remarks.
- The next moves for both markets hinge on the Fed policy statement and press conference, any reversal or progress in US‑Iran talks, oil price swings, and domestic signals such as the IMF director's visit and government comments in Argentina.